| |
| |
|
Strategic Planning Information |
|
|
|
The Magic Of Exponential Business Growth
Is there a 'magical' way to exponentially grow your business? It's about the timeless business principle known as "Re-investment". Look, one of the most exciting times for any new business is the time when effort begins to pay off. Finally, the sales are coming in and you have profit to show for all your hard work. It is very tempting during this time to splurge those profits... But you've to resist this urge and stop! You do deserve a reward. You deserve the greatest reward of all: a highly profitable, growing and thriving business with LONG-TERM stability. You deserve to take your business from where it is to where you dream it to be. Again, one quick and easy way to close that gap between reality and desire is simply by re-investing a potion of your profits back into your business. It's the same for any business offline, and it'll be the same for any successful business online. Let's look at why this is so. Every business requires a minimum budget to get off the ground. Likewise, every business requires an expanded budget in order to grow and increase profitability. Remember that your budget covers more than 'operating expenses' and advertising. It is also there to cover the purchase of new software, fund new projects or your continuing education. Keeping this in mind, what are some areas you can reinvest in: * Increased Reach and Exposure When you begin with a small budget, your advertising options are naturally somewhat limited. Once you have the money to re-invest you can begin testing new channels to deliver your message. This may mean placing an ad in an ezine you couldn't afford to before, or even taking your efforts offline to print and radio advertising. * Expanded Tactics and Improved Testing You have the opportunity to try out new approaches. You also have the opportunity to increase your current ad spend in existing campaigns and test the results. This is critical especially in pay per click advertising. For example, your minimum daily budget for a Google Adwords campaign affects the number of times your ad is seen and clicked on. A simple increase in your daily budget may turn a mediocre campaign into a winner. * Rapid Growth Through Efficiency There are any number of tools you can invest in to improve how you organize your business, how you manage customer service and even how much tracking of sales and traffic you can accomplish. Anything which shortens the time you spend on the detail work of your business means more time to focus on the activities which improve your bottom line. * Improved Products You must constantly strive to create new products and improve on existing ones in order to remain competitive. Perhaps your first product didn't quite fit your vision? Perhaps your web page could use a tune up? You can re-invest in improved graphics, improved design and other multi-media enhancements. This not only makes your product more attractive, it also increases its value and what you can charge for it. The principle of business reinvestment is really about profitable growth through momentum and careful planning. A business is very much like a seedling you want to grow into a tree. It requires air, sunlight, water and food. You tend to it and nurture, even when the immediate benefits aren't obvious. This is because you know the tree WILL one day bear fruit all year round. When you tend to your business with the same care, every cent you invest will return to you ten-fold and bear profit for years to come. If you've been doing this, great... If not, maybe it's something to think about, starting right now. Copyright 2004 Ewen Chia About The Author Ewen Chia is the CEO of Instant Marketing Secrets Inc, delivering real-time uncensored marketing content to help marketers skyrocket their traffic, sales and profits. Sign up for more profit-pulling marketing letters, tips and strategies instantly here: http://www.InstantMarketingSecrets.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Designing an Efficient Distribution System Let us look at a few of the big distribution networks in the US that we use today. The US Post Office for instance is a huge complex chain of symbiotic relations ships with vendors to deliver by truck, work with FED EX for air, previously that airmail idea started commercial aviation. Urban Flight in Ohio Many of Ohio's downtown areas are in need of upgrading as folks pack up and move to the suburbs. Many downtown revitalization projects are currently going on there. Documenting the Exit Strategy in Your Business Plan All investors greatly desire and are motivated by a clear picture of a company's exit strategy, or the timing and method through which they can "cash in" on their investment. This picture best comes into focus when the key valuation and liquidity drivers of the company are clearly delineated. Innovate Today for Great Leaps Forward Tomorrow How often does your company make a quantum leap forward? My guess is that, on a scale from "frequently (10) - to - never (1)" the answer is much closer to "never" because few companies have a process to innovate or think creatively. Very few attempt to formally think through their business model, their relationships with staff, clients, and vendors, and their product / service offerings. Microsoft Great Plains Implementation: Pharmaceutical Corporation Specifics - overview Microsoft Business Solutions Great Plains serves mid-size and large clients in horizontal and vertical markets. Historically Great Plains Software was encouraging ISV partner to write third party modules and later on - Great Plains Software had a chance to select the product for incorporation into their core set of modules: Manufacturing, Project Accounting, Purchase Order Processing, Collection Management, etc. What is a Shared Vision? So what makes a vision successful? Everyday companies try to create a vision that will lead them into the future but seldom does that vision ever impact the organization. The reason for this is that the vision is created by a few and never becomes a 'shared vision' of the entire organization. The Top Five Reasons Strategic Plans Fail "Most great plans aren't. They are just nice, high-level ideas. Dayton, OH; Why your Company needs to expand there In Ohio: besides the 3-Cs you should look at Akron, Dayton, Canton, Toledo, Youngstown and their suburbs. We have been serious studying these areas quite intensely for quite a while, here is what we found; Dayton OH, is looking up after the recent GM Plant received high ratings for productivity being able to beat the Domestic Averages for time to build cars and SUVs, it's SUV Plant was amongst the top performers in the Country for time to build at an average of 20. How to Start A Business Plan A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. Online Promotion: 10 Ways To Use Focus Groups To Ignite Your Profits A focus group is a group of employees or current customers that discuss and brainstorm new ways to improve different parts of your business.Below are online promotion secrets to use focus groups for marketing intelligence. Why You Need a Business Planning System NOT a Business Plan When someone mentions business planning we have been conditioned to think about writing a business plan. There are hundreds of books and articles, tons of software, an army of consultants, and a multitude government programs to help you write a business plan. The Power of Planning I am surprised how few sales professionals, independent consultants, and small business owners take the time to plan the strategy for their business. Most people spend more time writing out a grocery list or planning a vacation than they do planning the direction or outcome of their business. Business Plan: Planning the Operations Writing a business plan is no easy task, sure you can whip something together in a day or so, but without proper planning you are setting yourself up to fail. Many first time entrepreneurs have a bit of trouble writing a business plan, which will be acceptable to bankers and investors. Idaho Market for Automotive Businesses; Doing it Right Anyone who has been watching the Idaho Market Carefully for auto services, knows that the market is ripe, ready and growing. I visited Southern Idaho after establishing franchises in Northern Idaho three years ago for our auto aftermarket franchise company. During the election we heard about Ohio's Economy Much of what we heard in the mass media about Ohio and the down and out economy was the fiction of spin-doctors of politics who wanted to oust the current sitting President. On further review and first hand observation and experience Cincinnati has people moving in and economic expansion. Do You Really Need a Business Plan? "I don't need a business plan."Neither did Alice in Wonderland. Business Ideas: 3 Smart Ways To Generate Profitable Business Ideas Anytime Creativity is one of the greatest tools for success in business.All businesses are created first by ideas. Strategic Planning and Total Quality Management No matter what product or service you provide you will have to face this issue of quality and systems. Whether it is distribution of services or streamlining of processes in manufacturing your product; you will need to address the issues of total quality management. Regroup - How To Do It And Why It Works Regroup?is this a new management trend? Not a chance! Regroup is simply an opportunity to end one month's business cycle, recap the performance of your company and outline a plan of success for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previous month, and make any necessary adjustments for the new month. Own Your Niche by Building a Niche Community In 1997, David Steele was making the transition from a professional therapist to relationship coach. Part of his strategy was to become a center of influence and THE Relationship Coach for his community.
|
| home | site map |
| © 2006 |
